The times at which your withdrawal request is processed at Luno depends on your country or region. How long it takes to reach your bank account depends on your bank.


Things to keep in mind

When requesting a local currency withdrawal from Luno, please make sure that your bank account details are up to date and correct. Also, that the bank account you’re requesting a withdrawal to is your own personal bank account.


Tip:

Find out more about updating your bank account in Luno.


Withdrawals are processed according to the tables shown below. We’ll send you an email notification when we’ve released your money.


Note:

Please allow for normal bank transfer times before expecting the money in your bank account. This can take a number of days and is unfortunately outside of our control.


Withdrawal processing times at Luno

For currencies in the regions below, withdrawals are processed automatically.


Note:

Times indicated are local times for each country or region.

Currency
[Timezone]

Withdrawal processing times

Withdrawal processing days

Australia (AUD)
[GMT+10/11]

08:00 to 19:00

Mondays to Fridays

Indonesia (IDR)
[GMT+7]

24 hours a day*

7 days a week*

Europe (EUR)
[GMT+1]

06:30 to 15:00

Mondays to Fridays

UK (GBP)
[GMT+0]

24 hours a day

Mondays to Fridays

Nigeria (NGN)
[GMT+1]

24 hours a day

7 days a week

Singapore (SGD)
[GMT+8]

24 hours a day

7 days a week

South Africa (ZAR)
[GMT+2]
To Standard Bank accounts

08:00 to 17:45

Mondays to Fridays**

South Africa (ZAR)
[GMT+2]
To all other banks

08:00 to 15:45

Mondays to Fridays**


*24/7 processing (Indonesian customers)

  • 24/7 processing is available for withdrawals to BCA, CIMB, BNI, BRI, Mandiri and Danamon.

  • For withdrawals to Bank Permata, 24/7 processing is available for requests equal to and less than 25 million IDR.

  • For withdrawals to other banks, 24/7 processing is available for requests equal to and less than 50 million IDR.

  • All other requests will be processed around the clock throughout the week from 9:00 on Monday until 13:00 on Friday (excluding weekends) and will take 1 to 2 business days to reflect in your bank account. Expect some delay if you request for a withdrawal on a public holiday.


**Extra processing day (ZAR customers)

Withdrawal requests in South Africa will now also be processed on Saturdays.

Currency
[Timezone]

Withdrawal processing times

Withdrawal processing days

South Africa (ZAR)
[GMT+2]
To Standard Bank accounts

08:00 to 17:45

Saturdays

South Africa (ZAR)
[GMT+2]
To all other banks

08:00 to 09:45

Saturdays


For countries below, withdrawals are processed manually, Mondays to Fridays, except for public holidays.


Note:

You’ll need to request a withdrawal before the cut-off time in order for it to be processed at the release time.

Currency
[Timezone]

Withdrawal cut-off times

Withdrawal release times

Malaysia (MYR)
[GMT+8]

10:00
12:00
15:45

11:00
13:00
17:00

Uganda (UGX)
[GMT+3]

09:00
16:00

10:00
17:00



Non-bank financial service provider (UK customers)

Transactions must be in your name

If you withdraw local currency from your Luno wallet into a non-bank service provider, (such as Revolut or TransferWise) as well as Building Societies (such as Nationwide), the withdrawal would be directed back to the non-bank service provider and not the customer’s account. In some cases, the service provider (such as Nationwide Builders Society) will not accept any payments from digital currency exchanges. This causes unnecessary delays as the withdrawal is stuck “as pending” with the service provider.


Non-bank financial service provider limits

Also, these service providers detect if you are receiving money from digital currency exchanges (like Luno) and may reduce your funding limits or even block the transaction. You’d then have to contact the service provider to increase your limits, or unblock (possibly reverse) the transaction.


What we’re doing

You’ll have to take the matter up with the respective non-bank service provider from which you made the initial deposit. Luno can provide a proof of payment to help with this. To prevent any withdrawal delays, we advise our customers to deposit from, and withdraw their money back to a normal bank account, instead. If a withdrawal isn’t reflecting correctly, please do get in touch with us.


The role of a trustee and GIRO transfer (MY customers)

In line with the regulations by the Securities Commission Malaysia, the trustee plays a vital role in ensuring that our customers’ funds are kept safe and secure while using our platform. All withdrawal requests require final approval by the trustee before your withdrawals are processed via GIRO transfer (not Instant Transfer).

Therefore, remember that once your withdrawal is processed at the release time, it will not be instant, and will take some time for the payment to reflect in your bank account - depending on GIRO and interbank processing times. You should expect to receive your withdrawal on the same day if you’ve made the withdrawal request before 3.45 PM on that same day.


Note:

The trustee won’t be able to assist with any of your queries. If you’re facing any difficulties, please get in touch with us directly, and our Support team will be happy to help you out.